ASIC v Maxwell [2004] NSWSC 221

New South Wales Supreme Court

CITATION : ASIC v Maxwell [2004] NSWSC 221 HEARING DATE(S) : 25 March 2004 JUDGMENT DATE : 25 March 2004 JURISDICTION: Equity JUDGMENT OF : Campbell J DECISION : Application adjourned. Administrator replaced.

CATCHWORDS : CORPORATIONS - voluntary administration - appointment of administrator after Court has decided a provisional liquidator should be appointed, but before orders actually pronounced making such appointment - whether application for provisional liquidation should be adjourned - whether administrator appointed by directors should be replaced LEGISLATION CITED : Corporations Act 2001 (Cth) Corporations Law CASES CITED : DCT v Bradley Keeling Management [2003] NSWSC 47; (2003) 44 ACSR 377 Australian Securities & Investment Corporation - Plaintiff/Applicant Donald Richard Maxwell - First Defendant Business Express Success Techniques Pty Limited - Second Defendant Oceanwalk Projects Pty Limited - Third Defendant Procorp Investments Pty Limited - Fourth Defendant Central Development Group Pty Limited - Fifth Defendant/Respondent The Wake (Waitara) Pty Limited - Sixth Defendant/Respondent Alliance Developments Pty Limited - Seventh Defendant Malcolm Fortune - Eighth Defendant Coakley Associates Pty Limited - Ninth Defendant PARTIES : Bankstown Project Two Pty Limited - Tenth Defendant Drummoyne Constructions Pty Limited - Eleventh Defendant Great Northern Constructions Pty Limited - Twelfth Defendant Homebush Project One Pty Limited - Thirteenth Defendant Liverpool Projects Limited - Fourteenth Defendant Mansions on Mann Limited - Fifteenth Defendant Maroubra Properties Pty Limited - Sixteenth Defendant/Respondent Miranda Villas Pty Limited - Seventeenth Defendant Procorp Investments (Gosford) Pty Limited - Eighteenth Defendant Zepher Pty Limited - Nineteenth Defendant Jim Kolios - Twentieth Defendant Northern Sight Pty Limited - Twenty First Defendant FILE NUMBER(S) : SC 5298/03 COUNSEL : D R Stack - Plaintiff/Applicant R K Newton - 5th, 6th, 16th, Defendants/Respondents SOLICITORS : Australian Securities & Investments Commission - Plaintiff/Applicant Gillis Delaney Brown - 5th, 6th, 16th Defendants/Respondents